EMCC European Monitoring Centre on Change

Šiaulių stumbras

Company/Organisation:
Šiaulių stumbras

Geographic Location

Country: Lithuania
Region: Siauliu apskritis; Lietuva

Company

Sector: Manufacturing
Manufacture of textiles, apparel, leather and related products
15.11 - Tanning and dressing of leather; dressing and dyeing of fur
Number Employed: 200

Employment Effects

Announcement Date: 06-06-2005
Planned Job Reductions min: 200
Planned Job Reductions max: 200
Type of Restructuring: Bankruptcy/Closure
Employment Effect Start: 06-06-2005
Direct Dismissals: 200

Additional Information

Šiaulių stumbras, the largest and the oldest leather tanning and dressing company in Lithuania, announced its bankruptcy on 6 June 2005. The company experienced 10 million LTL losses from its main activity in 2004. Two hundred employees will be dismissed because of the company bankruptcy.